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Monitor Report of SOUTH KOREA trade and SOUTH KOREA-China binational trade in 202009

 1.  Overview the trade of SOUTH KOREA in goods current year until 202009

According to Dalian Infobank, in 202009SOUTH KOREA's exports and imports of goods amounted to 87380.5071 million, and were up 4.87% comparing with the same period of last year. Among these, exports were up 7.69% at 48039.7548 million, and imports were up 1.61% at 39340.7523 million. And the corresponding trade surplus was 8699.0026 million and up 47.61%.

During the current year until 202009, SOUTH KOREA's total exports and imports of goods were 714366.9789 million and were down 8.76% comparing to the same period of last year. Among these, exports were 371034.0891 million and down 8.53%; imports were 343332.8898 million and down 9.00%. The total trade surplus was 27701.1993 million and down 2.22%.

If considering by country (region), CHINA, UNITED STATES, JAPAN, VIETNAM, TAIWAN were SOUTH KOREA's top five trading partners. During the current year until 202009, SOUTH KOREA's imports and exports to five countries/territories were 174480.2549 million, 97766.6796 million, 51911.0365 million, 49890.1872 million, 24309.6369 million. These values correspond to 24.42%, 13.69%, 7.27%, 6.98%, 3.40% of SOUTH KOREA's imports and exports, and, respectively, were down 2.83%, down 2.29%, down 9.93%, down 4.00%, up 5.61% comparing to the same period of last year.

Current year until 202009, SOUTH KOREA and the top five trade partners CHINA, UNITED STATES, VIETNAM, HONG KONG, JAPAN are the top five countries/territories that SOUTH KOREA exports to in terms of the total export amount. During the current year until 202009, SOUTH KOREA's exports to these five countries/territories were 96423.3813 million, 53752.5622 million, 34260.7385 million, 22193.0042 million, 18715.4490 million. These values correspond to 25.99%, 14.49%, 9.23%, 5.98%, 5.04% of SOUTH KOREA's exports and, respectively, were down 3.27%, down 0.99%, down 4.93%, down 8.93%, down 12.26% comparing with the same period of last year.

Current year until 202009, SOUTH KOREA's exports to top five countries/territories CHINA, UNITED STATES, JAPAN, VIETNAM, GERMANY are the top five countries/territories that SOUTH KOREA imports from in terms of the total export amount. During the current year until 202009, SOUTH KOREA's imports from these five countries/territories were 78056.8736 million, 44014.1174 million, 33195.5874 million, 15629.4488 million, 14904.5231 million. These values correspond to 22.74%, 12.82%, 9.67%, 4.55%, 4.34% of SOUTH KOREA's total imports and, respectively, were down 2.28%, down 3.84%, down 8.57%, down 1.89%, up 2.50% comparing with the same period of last year.

During the current year until 202009, the trade surplus of SOUTH KOREA was mainly from HONG KONG, VIETNAM, CHINA, UNITED STATES, INDIA at 20997.9236 million, 18631.2897 million, 18366.5077 million, 9738.4448 million, 4767.1433 million, and down 8.65%, down 7.34%, down 7.26%, up 14.29%, down 38.01%. And the trade deficits were mainly from JAPAN, SAUDI ARABIA, AUSTRALIA, GERMANY, QATAR at 14480.1384 million, 9308.4866 million, 8852.2814 million, 8208.1104 million, 5654.6749 million, and down 3.31%, down 35.49%, down 6.10%, up 1.60%, down 42.13%.

Current year until 202009, SOUTH KOREA's trade surplus or deficit with top five countries/territories During the current year until 202009,  commodities with hs2 codes, 85, 84, 27, 87, 39, were SOUTH KOREA's top five traded commodities. They correspond to the import and export values of 182333.8345 million, 92504.8611 million, 86462.5392 million, 49752.9319 million, 31193.0478 million, which were up 0.61%, up 0.53%, down 32.21%, down 14.73%, down 5.83% comparing with the same period of last year and account for 25.52%, 12.95%, 12.10%, 6.96%, 4.37% of SOUTH KOREA's total imports and exports.

During the current year until 202009, 85, 84, 87, 39, 27 were SOUTH KOREA's top five traded commodities, with total import and export values of 114759.8332 million, 50332.0327 million, 37374.9424 million, 22872.5536 million, 19621.8735 million. These values correspond to 30.93%, 13.57%, 10.07%, 6.16%, 5.29% of SOUTH KOREA's total exports and, respectively, were up 0.15%, down 4.08%, down 19.47%, down 6.63%, down 38.14% comparing to the same period of last year.

During the current year until 202009, 85, 27, 84, 90, 87 were SOUTH KOREA's top five traded commodities, with total import values of 67574.0013 million, 66840.6657 million, 42172.8284 million, 14020.1716 million, 12377.9895 million. These values correspond to 19.68%, 19.47%, 12.28%, 4.08%, 3.61% of SOUTH KOREA's total exports and, respectively, were up 1.41%, down 30.25%, up 6.65%, up 3.05%, up 3.68% comparing to the same period of last year.


2. Current year until 202009, SOUTH KOREA binational trade profile

According to Dalian Infobank, during the current year until 202009, SOUTH KOREA-China binational exports and imports of goods amounted to 174480.2549 million and were down 2.83% comparing with the same period of last year. Among these, exports from SOUTH KOREA to China were 96423.3813 million and down 3.27%, imports from China to SOUTH KOREA were 78056.8736 million and down 2.28%. The total binational trade surplus was 18366.5077 million and down 7.26%.

During the urrent year until 202009, commodities with hs2 code, 85, 84, 39, 90, 29, were binational trade's top five traded commodities. They correspond to import and export values of 68082.3746 million, 24287.1046 million, 9957.9716 million, 8956.2317 million, 8333.0820 million and makes up 39.02%, 13.92%, 5.71%, 5.13%, 4.78% of the total binational imports and exports. These values were also up 2.36%, down 4.71%, up 3.66%, down 4.83%, down 25.81% comparing to the same period last year.

During the current year until 202009, 85, 84, 39, 90, 29 were the top five traded commodities exported to China from SOUTH KOREA, with export values of 39333.4532 million, 12948.8000 million, 7703.7369 million, 6760.9616 million, 5708.9150 million. These values account for 40.79%, 13.43%, 7.99%, 7.01%, 5.92% of SOUTH KOREA's total exports and were up 4.57%, down 9.08%, up 4.64%, down 7.85%, down 32.15% comparing to the same period of last year.

During the current year until 202009, 85, 84, 72, 28, 29 were SOUTH KOREA's top five traded commodities importing from China , with import values of 28748.9214 million, 11338.3046 million, 2871.5323 million, 2641.2920 million, 2624.1670 million. These values account for 36.83%, 14.53%, 3.68%, 3.38%, 3.36% of SOUTH KOREA's total imports and were down 0.52%, up 0.81%, down 31.64%, down 2.72%, down 6.86% comparing with the same period of last year.


3.Analysis of import and export trends


Data Source: Korea Customs and Trade Development Institution